You can become a millionaire by adding 20 bucks a day. If you invest Rs 20 per day, not just millionaires, you can add Rs 10 crore. This is possible only if you are moving forward with your investment. Let’s find out now from how you can become a millionaire by adding 20 bucks. You already know about mutual funds. It offers investment opportunities every month. You can invest at least Rs 500 per month in mutual funds by SIP. Mutual funds have been making great returns for the past 25 years. Some funds return up to 20 percent.
If a 20-year-old man saves 20 rupees a day. This amount is 400 in a month. The amount will then be made to the Mutual Fund with a systematic investment plan, i.e. SIP. Investment must continue for up to 60 years. This means that you have to invest Rs 400 per month for 40 years. At an average of 15 per cent of the investment, you will get around Rs 1.4 crore in 70 years. You have to invest Rs 2,400 in these 40 years. If 20 per cent return is received in the Rs 400 per month SIP, then Rs 10.21 crore will be deposited in 60 years.
In addition, if a 20-year-old man saves Rs 30 per year, which is Rs 400 per month. Any diversified mutual fund invested in this amount by the SIP will receive an average return of Rs 1.08 crore after 40 years on the investment 40 years later. Of this, Rs 4,32,000 has to be invested.
In the case of long-term investments, the interest rate increases on small investments. But the big thing is to get the help of financial advisors before investing anywhere.
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